Exicom Tele-Systems Limited (EXICOM) announced its audited financial results for the fourth quarter (Q4) and financial year (FY) ended March 31, 2025, following a conference call held on May 24, 2025. The company highlighted a strong order book for its Critical Power business and significant advancements in its EV charger segment, including new product launches and global expansion through Tritium.

Key financial and business highlights include:

• Financial Performance (FY25 vs FY24):

  • Standalone revenue for FY25 stood at ₹752 crore, down from ₹866 crore in FY24.
  • Standalone gross margins for FY25 were approximately 27%, a slight dip from 29.9% in FY24, attributed to competitive intensity.
  • Consolidated revenue for Q4 FY25 was ₹265 crore, a significant increase from ₹196 crore in Q3 FY25. Tritium contributed approximately ₹50 crore to Q4 consolidated revenue.
  • EBITDA was impacted by sales dip and fixed costs, particularly from Tritium's startup phase.

• Critical Power Business:

  • Achieved an 88% growth in revenue compared to Q3 FY25.
  • Secured its highest-ever order book, exceeding ₹1,500 crore, to be executed over the next three years, with significant volume expected from Q2 FY26.
  • Reported good traction and new orders from Africa, Southeast Asia, and the Middle East, including a frame agreement with a large telco in Africa and serving the biggest tower company in Saudi Arabia.
  • Added three new infrastructure companies in India, receiving over US$1 million in orders.
  • Launched new products, including a 1.8-kilowatt power converter for small cell technology and a Smart rack solution for the Bharat Net project.

• Domestic EV Charger Business:

  • Q4 FY25 revenue was similar to Q4 FY24 (approximately ₹55 crore standalone), showing a 17% de-growth compared to Q3 FY25 due to price pressure, despite higher volumes.
  • Supplied over 50,000 chargers, including 1,500 to 2,000 DC chargers.
  • Inducted 11 new charge point operators and added four new OEMs for its 3.3-kilowatt portable charger.
  • Expanded exports of home chargers to Australia and Brazil.
  • Launched key new products: SPIN Free (a portable charger with 100% Indian IP, manufacturing from July 2025), Gen 2.0 DC charger (modular architecture, powered by indigenously developed Harmony OS, manufacturing from July 2025), and a liquid-cooled Battery Energy Storage System for EV charging.

• Tritium EV Charging Business:

  • Acquired in September 2024, the business is taking longer to convert investments into sales.
  • Launched the new Tri-Flex distributed charging platform in April 2025.
  • Engaged in advanced negotiations for significant value contracts with network operators in the U.S. and Europe.
  • Installed and commissioned 500 new Tritium chargers since January 1, 2025.

• New Manufacturing Plant:

  • The Hyderabad plant's go-live timeline has been revised to September 2025, a 2-3 month delay due to unforeseen geological changes and road damage from heavy rainfall.
  • The company assured that this delay will not cause revenue shortfalls for Q1 and Q2 FY26.

Management Commentary & Outlook: Mr. Anant Nahata, Managing Director and CEO, expressed confidence in achieving the company's guidance for FY26. He noted that while Q4 FY25 saw margin pressure in the EV segment, cost optimization efforts are expected to yield results from Q1 and Q2 FY26.

Mr. Shiraz Khanna, CFO, acknowledged FY24-25 was challenging due to factors like the end of the FAME II policy and government elections. He highlighted promoter infusion of ₹80 crore and the board's approval to explore further fund-raising to support long-term investments, particularly in Tritium.

Future Guidance: Exicom Tele-Systems Limited anticipates a 50% revenue growth on a standalone basis and multi-fold EBITDA growth on a standalone basis for FY26. The company remains positive on the long-term potential of Tritium to become a global leader in EV charging.